Gordon Bros. Chief Remembers Harvard Pal For Deal

Gordon Brothers Group's ceoMark Schwartz呼吁一个old Harvard Business School friend to help the Boston advisory firm's investment arm,GB Merchant Partners, acquire retail chainThings Remembered. GB Merchant Partners and New York private equity firmBruckmann Rosser Sherrillrecently acquired Things Remembered in a deal valued at $200 million. Each firm controls 50%.

"We started looking at this before we had closed our fund, so we thought it would be good to share the equity requirement with another firm," said Schwartz, who contributed to the deal team led byJamie Dworkin, principal and managing director of GB. Things Remembered sells personalized gifts such as flasks inscribed with initials, trinket boxes and pocket watches. GB Merchant Partners has since closed its fund at $250 million.

Schwartz rangTom Baldwin, a managing director at Bruckmann who attended HBS with Schwartz more than 20 years ago. The two had tried to partner up on numerous deals in the past, Schwartz said, but it never worked out. Baldwin could not be reached for comment.

The retail chain's previous owners,Luxottica, hiredGoldman Sachsto run the auction in early 2005. Schwartz said the two firms plan to renovate existing Things Remembered stores and improve its catalogue and Internet advertising. "We think their direct channel is underdeveloped," he said. They also plan to open additional stores.

GB Merchant Partners expects to close another deal in consumer products in the next month or two. Schwartz declined to give specifics.